Prince George’s County COVID19 Business Relief Fund

The Prince George’s County COVID19 Business Relief Fund is a $15M fund established to provide financial assistance to businesses affected by the COVID-19 crisis. The Relief Fund can be used to support cash operating expenses including payroll, suppliers, rent, fixed debt payments and other business critical cash operating costs.

Eligibility:

• County-based small businesses, with a principal business office or location physically located in Prince George’s County;

• Businesses meet U.S. Small Business Administration definition of a small business

• New business ventures are not eligible

• For-profit business entity

Loan Terms:

• Retain County jobs with a goal of hiring County residents for future vacancies.

• Maintain operations in the County for the term of the loan.

• Provide evidence that application for assistance has been submitted to the EIDL program and Maryland's Small Business COVID-19 Relief Fund.

• Must have Personal & Corporate Guaranty

• Collateral needed: UCC lien filing on business assets

• Limit to $100,000; Rate 3.75%

Grants of up to $5,000 for businesses with less than 10FTEs, and $10,000 for those with more

*Application Available April 13th - May 15th*

For more information: https://www.pgcedc.com/covid-business-fund-2020